CVC Capital Partners has sold its stake in ista International to Charterhouse Capital Partners after CVC acquired ista in a management buy-out in June 2003.
ista is a global leader in the area of submetering and billing of energy, water and ancillary costs. The company is active in 24 countries across Europe, North America and Asia. Sales increased under CVC’s ownership from approximately €460 million ($610 million) in 2002 to €600 million ($796 million) in 2006, while ista’s share of international revenues expanded from 27 per cent to almost 50 percent over the same period of time. This was primarily driven by organic growth and a number of acquisitions, both internationally and in Germany. ista’s staff increased under CVC’s ownership from 3,700 to 4,500.